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Bill Of Sale Research Paper

469 Words2 Pages

Bill Of Sale
Bill of Sale of personal property in the State of Mississippi is a legal instrument intended to sanctify a sale/purchase transaction of a personal property. The document has lawful legal standing with the provision for the notarization and attestation by two unbiased witnesses. Describe the personal property and the subject of the Bill of Sale document in the space provided for the same to quantify reasonably. Furthermore, this description serves as a platform to validate the transaction between the buyer and the seller. The seller undertakes that the said property is free from any and all sorts of lien/claims/liabilities of any kind and the seller and his/her heirs, successors, and representatives have the rightful possession and the right to enjoy the property. …show more content…

Submission of State of Mississippi Bill of Sale instrument is necessary during the title transfer of the said personal property.
State of Mississippi jurisdiction governs the Bill of Sale instrument for personal property.

The foremost portion of the Bill of Sale document requires the input of the name of the county and then the date of execution of the instrument. Furnish both details in the respective spaces on line one.
Enter the amount mutually agreed between both the parties in the US dollar. Mentioning this information is very crucial as this amount is considered as a base property value and it serves as a platform for computation of taxes for the buyer.
Continue by entering the name of the buyer in the space reserved for the same. Enter full legal name of the buyer to avoid miscommunication and ambiguity.
Enter the property description in detail in the subsequent lines. This description serves various purposes and it being specific and accurate therefore is necessary. The seller or the signing principal must sign on the space provided for the same to execute the Bill of Sale

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